Indicative Interest Rates

INTEREST RATES ON SAVINGS/CURRENT ACCOUNTS – EFFECTIVE 3rd March 2023
Savings Account	3.10% p.a.
SBM All-In-One Account	0.35% p.a.
Senior Citizens Savings Account	3.25% p.a. (0.15% above Savings Rate)
Super Savings^*	3.10% on first MUR 1,000,000 3.25% on incremental balances above MUR 1,000,000 (0.15% above Savings Rate) *Products are no longer on offer and rates apply to existing accounts only

The above rates are applicable to individuals only.

INTEREST RATES ON MUR TERM DEPOSITS – EFFECTIVE 21st December 2022 (Applicable for individual customers only)
12 Months	0.20% over Savings Rate presently being 3.10% (3.30%)	Half Yearly
24 Months	0.40% over Savings Rate presently being 3.10% (3.50%)	Half Yearly
24 Months	0.55% over Savings Rate presently being 3.10% (3.65%)	At Maturity
36 Months	0.60% over Savings Rate presently being 3.10% (3.70%)	Half Yearly
36 Months	0.75% over Savings Rate presently being 3.10% (3.85%)	At Maturity

The conditions are as hereunder:

1. The above are board rates for MUR Term Deposits up to MUR 5,000,000. For large single deposits exceeding MUR 5,000,000 and for longer periods, please contact SBM ALM & Capital Mgt Team.

2. Minimum amount acceptable under Term Deposit is MUR 100,000/-. It is understood that amount below MUR 100,000/- will be accepted under Savings or “All-in-one” accounts.

3. Encashment of deposit prior to maturity is at the discretion of the Bank. Interest may be forfeited if funds are withdrawn within 3 months of date of deposit.
Pre-mature encashment of term deposit after 3 months will be at 1% penal rate or the cost incurred by the Bank for replacement of the Deposit, whichever is higher.

4. Above rates will apply as from 3rd March 2023.

EFFECTIVE 3rd March 2023

SBM Prime Lending Rate (PLR) is presently 7.05% p.a.

INTEREST RATES ON FOREIGN CURRENCY DEPOSITS – Effective as from June to September 2022 (Applicable for individual customers only)
TERM DEPOSITS
	USD	EUR	GBP
12 Months	2.08	0.02	1.19
24 Months	2.23	0.10	1.34
36 Months	2.38	0.12	1.44
48 Months	2.48	0.19	1.54
60 Months	2.58	0.34	1.64
CALL DEPOSITS
No interest is currently payable on Foreign Currency Call Deposits. Negative interest rates may apply to certain Foreign Currency Call Deposits.

The above rates are applicable for amounts up to 100,000 units of FCY.
For higher amount, please contact your Service Leader or Private Banker.
Non-individuals or businesses are requested to contact their respective Relationship Officer for indicative rates.

The above rates are indicative and may fluctuate. Please check the latest interest rates and deposit

periods available at any SBM Service Unit.

CONTACT US

Service Request

*Products are no longer on offer and rates apply to existing accounts only